The so-called Large Bitcoin Collider (LBC), a tool set up to find and gain access to Bitcoin address funds through private key discovery, recently passed over 1,000 trillion key searches.
LBC, which developers describe as “a distributed effort to find at least one collision of private Bitcoin keys,” is creating around 2,000 tn such addresses, matching them against a known list of addresses containing funds.
“In the rare event of a collision, the funds on the address in question would become accessible to the collision finder,” its website states.
Far from being a malicious effort, the Collider is being used to demonstrate the true strength of Bitcoin’s security.
“[The] current consensus is “that’s impossible” and that is a gauntlet thrown down,” developers continue.
“This project is the practice part of the theory behind Bitcoin encryption and protection of funds.”
As a distributed effort, the LBC is open to any user wishing to contribute. Pools are even organized to increase the chances of “success,” while the legal implications of keeping discovered funds vary by user location.
On that subject, however, the developers take a more hands-off approach.
“Depending on your jurisdiction, this may be considered theft and is therefore illegal,” the website continues.
“However, there are many [jurisdictions] where you could perfectly legally claim 5-10% of the value found. So you should consider if you want 100% and become a criminal or if you get 10% and still be a law abiding citizen.”
The project has so far unearthed a small amount of Bitcoin.
Cointelegraph this week provided readers with practical advice on how to secure their Bitcoins, specifically in the wake of the WikiLeaks Vault 7 revelations.